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Star Entertainment Adds Peter Hodgson to Board of Directors

Posted on July 10, 2023 | 5:43 am
star-entertainment-completes-board-renewal-with-appointment-of-financial-services-guru

Star Entertainment, one of the biggest operators of land-based casinos in Australia, has announced the appointment of Peter Hodgson, a financial services veteran, to its board of directors.

This appointment wraps up the company’s “Board renewal program”, which saw seven new additions to the Board of Directors since it was first announced back in April 2022. The program kicked off after former Chairman John O’Neill and Chief Executive Officer Matt Bekier left the company following the results of an investigation into The Star Sydney.

David Foster, the new Chairman of Star Entertainment’s Board of Directors, welcomed the new addition and described Peter Hodgson as someone with “extensive commercial, governance and risk management experience”, a director that should be “well positioned to contribute to The Star’s remediation and transformation.”

Peter Hodgson has extensive global financial services experience and a strong business track record. He is known as a “strategic thinker” who has accumulated in-depth experience in large companies. He is currently serving as Chairman of Judo Bank and of the Centre of Evidence and Implementation, while also being a director at Planum Partners and a member of the University of Melbourne’s Trinity College Investment Management Committee.

The new Star Entertainment director has previously been in senior executive roles in Australian and global financial institutions, being appointed as Chief Risk Officer and Group Managing Director Institutional at ANZ and Chief Executive Officer and Managing Director of Myer Family Investments.

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A Difficult Situation

Star Entertainment is going through a rough time as the company is facing decreasing revenues and the possibility of increased casino taxes in New South Wales. Moreover, the company had to pay fines of 200 million Australian dollars in New South Wales and Queensland.

Last month the company announced that the opening of Queen’s Wharf Brisbane, the new flagship location that Star Entertainment is building in Brisbane, had to be postponed once again. The grand opening was expected to happen in December 2023 and it has been moved to April 2024.

Queen’s Wharf Brisbane will feature four hotels, 50 restaurants, cafes and bars, around 2,000 residential apartments, along with a huge casino with 2,500 slot machines and hundreds of gaming tables.

SOURCE“Star completes Board renewal with appointment of financial services guru“Inside Asian Gaming. July 7, 2023.

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